Posted by JHyre in Ohio on December 13, 2001 at 09:13:21:
That is generally a schedule E type of business. I assume that you intend to use a single-member LLC, as opposed to owning in your name!
John Hyre
Tax implications of rental rehabs - Posted by James
Posted by James on December 12, 2001 at 21:09:21:
If I buy properties to rehab and then rent long term, will I ever have to ever have to worry about paying taxes as a business on schedule C when the only money I will make will only come from rents and refinancing or a sale of the property a few years down the road after I have rented it for a while?